Gold came within $5 of a new seven-year high, gaining 0.7% on the day. Bullion is rallying on renewed haven demand as investors assess the economic blow back of coronavirus. Citigroup is calling for $2,000/oz. gold in the next 12 to 24 months. The price of gold was approaching seven-year highs on Wednesday, as investors…
Gold dumped more than 2.1% between Jan. 30 and Feb. 4 as central-bank easing propped up the stock market. Relying on inflation to boost share prices will ultimately backfire against central banks, making gold more attractive. Bullion recovered on Wednesday, clocking in at a high of $1,566.20/oz. The price of gold slumped into February after…
Gold’s price peaked at $1,567.50/oz. on Thursday, putting it on track for the highest settlement in two weeks. A technical strategist believes bullion could make a fast move towards $1,700 in the near future. The same analyst predicts a large pullback for the S&P 500 – a move that would benefit gold and other haven…
Gold is having the best year in terms of returns since 2010. A move above a key resistance can send gold soaring. There are five reasons why the yellow metal can break through the resistance. 2019 has been an excellent year for gold. Bullion’s price has soared close to 15% year-to-date, marking the best year…
Gold price dropped by 4% as U.S. stock market hit record highs. Major U.S. banks including JPMorgan and Citibank closed positions on gold for more risky alternatives. Nobel laureate says geopolitical risks are over-estimated, making the environment better for stock market over gold. The gold price has dropped by 4% in the past nine days…
Gold is rallying in lockstep with the S&P 500, suggesting investors are still concerned about global macro risks. | Image: shutterstock.com Gold and stocks are rallying in lockstep with each other. Appetite for gold is driven by safe-haven demand despite surging stock prices. Analysts believe the gold bulls still have the upper hand in 2019.…
